Question 14 9 pts ABC Company Limited reported the following shareholders' equity on its balance sheet at June 30, 2019: Shareholders' equity $0.60 cumulative preferred shares, 375 $3,000 shares issued Common shares, 5,000 25,000 shares issued Retained earnings 30,000 Total Shareholders' equity $58,000 During 2020, the company completed these transactions that affected shareholders' equity: August 13: Issued 4,500 common shares for $5.50 per share. October 7: Declared the regular cash dividend on the preferred shares. December 22: Paid the cash dividend. March 9: Declared a 11% stock dividend on the common shares. Market price of the common shares was $5.75 per share. March 23: Distributed the stock dividend. May 31: Issued 275 common shares for $5.80 per share. June 30: Net income for 2020 was $42,000 Required 1. Prepare the Shareholders' Equity section of the balance sheet for the year ended June 30, 2020. Make sure you show ALL your calculations. Hand write your answer in your rough work. This will be submitted at the end of the test. 2. In the box below. Type in the total shareholder's equity you calculated in your partial balance sheet above. Round your answer to the nearest whole number